INSURANCE COMMISSION 194D
This query is : Resolved
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RAJIB BHATTACHARJEE
(Querist)
05 August 2025
SIR MY QUARY I RECEIVED COMMISSION FROM INSURANCE RS.20 LACS CAN I PROFIT SHOWING 7 LACS OR NOT
Dhirajlal Rambhia
(Expert)
06 August 2025
The commission income cannot be declared under presumptive assessment. You need to maintain proper books of accounts with all the credit debit bill/vouchers. The net profit can be 7 lakhs or even lower based on the records.
Dhirajlal Rambhia
(Expert)
24 September 2025
Good Luck...
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